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ICBC Provides Efficient Service to Support the Earthquake Relief in Qinghai

After a 7.4-magnitude earthquake hit Madoi in Qinghai Province, ICBC paid close attention to the earthquake relief and the life of the people affected. ICBC immediately established a leading team to ensure relevant financial services are timely provided to the earthquake-devastated area.

ICBC contacted Qinghai Transportation Holding Group Co., Ltd. (“QHJK”) soon after the disaster occurred, to learn about its financial service needs during the special period. In line with the principles of dealing with contingent and special cases with special responding mechanism, and optimizing approval process to make loan granting as fast as possible, ICBC efficiently completed the approval of RMB1 billion special loans and first issued a RMB50 million special loan for road and bridge maintenance to QHJK. The loan provided fund support to QHJK, and bought time for earthquake relief within Madoi County.

Jiangduo Village in Machali Town, Madoi County is the village that ICBC Qinghai Branch pared up in the targeted poverty alleviation campaign. ICBC immediately contacted the working team stationed at the village, requiring them to collaborate with the local government in the earthquake relief. Learning local herdsmen’s houses, cowsheds and sheep pens were damaged by the earthquake, and they need materials against cold at temporary homes, ICBC purchased 560 quilts, 100 cotton-padded overcoats, and 33 tons of fire coal, and delivered these materials to the disaster relief area in Madoi County on the morning of May 24.

When disaster struck, help came from all sides. Institutions within ICBC also immediately initiated their emergency plans. Outlets opened the relief green channel to handle transfers of money donations from all walks of society.